CHICAGO -- Inside a meeting room at the Westin O'Hare Hotel, NFL commissioner Roger Goodell has spent Tuesday updating the 32 NFL owners about the parameters for a new collective bargaining agreement between them and the players.

Although Goodell won't address the media until after the meeting ends this afternoon, these are the highlights of the proposal, according to an ESPN.com report.

Players will receive 48 percent of all revenues, without the owners taking a $1 billion cut off the top of a $9 billion revenue model. The players' share will never dip below 46.5 percent. Under the old CBA, the players received 60 percent, not including a $1 billion "expense credit" for the owners off the top.

Owners still will get expense credits, which will allow for stadium construction.

The rookie wage scale is being tweaked.

An 18-game schedule, previously thought to be a major proposal on the owners' plate, will be designated only as a negotiable item with the players and is not mandated in a potential agreement.

A 16-game Thursday night TV schedule, which will be a new revenue source, will begin in 2012.

If revenues possibly double to $18 billion by 2016, retired players will benefit from improved health and pension funding.

A built-in mechanism in the new CBA will require teams to spend a minimum of 90-93 percent of the salary cap.

All players with four or more years of experience and expiring contracts would be unrestricted free agents.

Negotiations between owners and players are expected to resume later this week. Assuming there is continued progress and no unexpected setbacks, a new CBA could be in place by mid-July, which would assure training camps of starting on time. The opening preseason game, the Hall of Fame game, is scheduled for Aug. 7.